[Politics] The Labour Government

[Pavilionaire]

They are keeping their cards under the table for the next election.

I believe that the majority of voters (in this country and certainly America) vote on their own personal economic outlook. Imagine the genuine promises Labour can make to voters about improving their financial lot if they campaign on rejoining the EU in the next election. Most people will have learned by then that the loss of some powers to the EU is more than balanced out with the economic gain they’d see if we rejoined. By 2029, you could be making most families at least £1,000 better off PA by trashing Brexit.

Starmer should put his balls on the line and promise a return to growth on the EU if Labour are re-elected. Sod another referendum.

I thought they would park the issue, see how things pan out, then reintroduce it as Plan B in the lead-up to the next election if necessary.

However, not content with the constraint of no rises to income tax, Class 1 / 4 NI and VAT they have further constrained themselves on EU trade. They're wearing a new straitjacket over the old straitjacket. Even Houdini couldn't get out of a bind like that.

 

[beorhthelm]

Are you saying people on the minimum wage don't have full time jobs?

he's saying many people on minimum (or low) wages are part-time. those jobs are greatly impacted by the reduction in NI threshold, more than the headline % NI rise. it'll probably also have an effect where companies employ a large numbers of part-timers rather than fewer full time, to avoid employers NI altogether on those staff. which is probably why this was done. though it catches smaller employers out who have small part time jobs out of necessity.

 

[Weststander]

They are keeping their cards under the table for the next election.

I believe that the majority of voters (in this country and certainly America) vote on their own personal economic outlook. Imagine the genuine promises Labour can make to voters about improving their financial lot if they campaign on rejoining the EU in the next election. Most people will have learned by then that the loss of some powers to the EU is more than balanced out with the economic gain they’d see if we rejoined. By 2029, you could be making most families at least £1,000 better off PA by trashing Brexit.

Starmer should put his balls on the line and promise a return to growth on the EU if Labour are re-elected. Sod another referendum.

Sadly. An excellent LBC hour or two on this subject this afternoon with Shelagh Fogarty with some experts. Labour are not playing a long game or any sort of game. They have no intention or aspirations of joining a customs union or anything closer than that.

THE reason is that they’re aware that their vote in July included traditional Labour voters who are still pro Brexit.

Makes sense mathematically. The party only yielded 33.7% of the electorate. The lowest for a UK government with overall control by a country mile, ever?

Also, very significantly and covered on R4 too, Trump unlike Biden wants a trade deal with the UK. That would give far lower safety and animal wealthfare standards, making any deal with the EU impossible.

 

[beorhthelm]

1. The first of those sources makes no mention of 2.5%.
2. The second refers to “recent reports suggest….” without giving a source without me creating a login. If you’ve the original source please let us have it.
3. The Sky report refers to another article which reveals that the original report was commissioned by that well-known neutral Sadiq Khan.

And I still don’t get how adding 2.5 to 1.1 gives an astronomical GDP growth way above Europe and approaching US/China levels.

usually sources refer to a non-brexit model to make a comparison, or it's cumlative of lower growth to date since 2020. then the number gets put next to Q-Q figures to distort the story.

 

[Guinness Boy]

he's saying many people on minimum (or low) wages are part-time. those jobs are greatly impacted by the reduction in NI threshold, more than the headline % NI rise. it'll probably also have an effect where companies employ a large numbers of part-timers rather than fewer full time, to avoid employers NI altogether on those staff. which is probably why this was done. though it catches smaller employers out who have small part time jobs out of necessity.

Yes thanks for pointing out the bleedin obvious but my point was more that he was using percentage when it suited him and money when it didn’t. He chose to ignore that and deflect.

By his own logic full time people reduce the percentage burden the more they earn.

 

[Hiheidi]

I believe that the majority of voters (in this country and certainly America) vote on their own personal economic outlook. Imagine the genuine promises Labour can make to voters about improving their financial lot if they campaign on rejoining the EU in the next election. Most people will have learned by then that the loss of some powers to the EU is more than balanced out with the economic gain they’d see if we rejoined. By 2029, you could be making most families at least £1,000 better off PA by trashing Brexit.

Starmer should put his balls on the line and promise a return to growth on the EU if Labour are re-elected. Sod another referendum.

The EU won't let them put VAT on private school fees, so that would be an interesting step down after all the fuss they made over it.

 

[WATFORD zero]

The EU won't let them put VAT on private school fees, so that would be an interesting step down after all the fuss they made over it.

As reasons to completely destroy your economy and power within the 21st century world order, it's one of the best I've heard.

(Sorry, that wasn't a compliment )

 

[Weststander]

With all the talk of economic growth in this thread (I’ve only ever heard the likes of Jonathan Porritt and Caroline Lucas argue for a different world, everyone seems to ignore that), it’s worth mentioning this.

On the radio this week someone made a passing comment, I’ve fact checked it and it’s true. Before the Great Recession, in 2007 the EU and US economies were a near identical size with annual GDP at USD14.5T and USD14.7T, now they’re USD17.9T and USD29.3T. The loss of the UK accounts for USD3T of that.

The US just does enterprise and innovation more nimbly, it really is a powerhouse. Aided of course by the big tech Magnificent Seven too.

I’m sure economists ponder this …. how can wider Europe get the growth almost everyone says is required to deliver the tax and wealth for the continent to solve its issues?

 

[nicko31]

Sadly. An excellent LBC hour or two on this subject this afternoon with Shelagh Fogarty with some experts. Labour are not playing a long game or any sort of game. They have no intention or aspirations of joining a customs union or anything closer than that.

THE reason is that they’re aware that their vote in July included traditional Labour voters who are still pro Brexit.

Makes sense mathematically. The party only yielded 33.7% of the electorate. The lowest for a UK government with overall control by a country mile, ever?

Also, very significantly and covered on R4 too, Trump unlike Biden wants a trade deal with the UK. That would give far lower safety and animal wealthfare standards, making any deal with the EU impossible.

Trump would like a deal with the UK but on his terms and we'd get screwed.

The only way I can see Labour shifting is if the LD's move position (quite possible), Labour lose loads in the next election and are forced into coalition and get bounced into something.

 

[nicko31]

With all the talk of economic growth in this thread (I’ve only ever heard the likes of Jonathan Porritt and Caroline Lucas argue for a different world, everyone seems to ignore that), it’s worth mentioning this.

On the radio this week someone made a passing comment, I’ve fact checked it and it’s true. Before the Great Recession, in 2007 the EU and US economies were a near identical size with annual GDP at USD14.5T and USD14.7T, now they’re USD17.9T and USD29.3T. The loss of the UK accounts for USD3T of that.

The US just does enterprise and innovation more nimbly, it really is a powerhouse. Aided of course by the big tech Magnificent Seven too.

I’m sure economists ponder this …. how can wider Europe get the growth almost everyone says is required to deliver the tax and wealth for the continent to solve its issues?

The US has done incredibly well, but as a nation money hasn't brought them happiness. Too much wealth tied up in too few, a lesson for us all.

 

[Weststander]

The US has done incredibly well, but as a nation money hasn't brought them happiness. Too much wealth tied up in too few, a lesson for us all.

Definitely a nation of shocking contrasts. In rich Fifth Avenue you literally walk past beggars with no shoes, look so ill, guessing opioids addicts from their epidemic?

On the working conditions side. A nurse in a private hospital can earn up to $100k, lawyers (not partners) on £140k in The City can earn well over $200k in NYC. But you give your life to the career, holiday entitlement rubbish in my opinion … but it’s the American work hard way.